Yahoo Finance Here's Why NIO Inc. (NIO) Gained But Lagged the Market Today
NIO Inc. (NIO) closed at $4.01 in the latest trading session, marking a +0.25% move from the prior day. The stock lagged the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
The company's shares have seen a decrease of 18.53% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 11.58% and the S&P 500's loss of 4.16%.
Market participants will be closely following the financial results of NIO Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.31, showcasing a 26.19% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $1.48 billion, reflecting a 4.65% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.26 per share and revenue of $9.21 billion, indicating changes of +28% and +18.29%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.32% rise in the Zacks Consensus EPS estimate. NIO Inc. presently features a Zacks Rank of #4 (Sell).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report
